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income hong kong, i'm andrew stephens, you're watching "world business today." >>> oil prices continue to soften as investors watch the latest from libya. >>> what happens when you don't turn off your electrical device in a plane? we'll be looking at a new study of safety in the air. >>> and making money out of misery. we look at the traffickers in human cargo. >>> well, the european stock markets have been open for about an hour now. let's have a look at how they faired. yesterday we did see a third straight day of losses for some of these markets. the dax basically flat. and as you can see, the ftse down by about .6%. and the currency markets, there's not an awful lot of movement either. the euro is down against the dollar at the moment. just below $1.39. and when it comes to the pound, that is pretty much flat at 1.61. rate setters will be deciding upon interest rates tomorrow. and that's amid concerns that inflation is still double the bank of england's own target. let me remind you that interest rates across the british isles have been a record low for two years now. let's have a
london, i'm nina dell santos. >> and good afternoon from cnn hong kong, i'm andrew stephens. welcome to "world business today." our top stories this tuesday, march 8th. it's the biggest u.s. insider trading probe in a generation. one-time billionaire faces a jury this tuesday. >>> the dark side of the chocolate industry. we investigate claims of child labor in west africa's cocoa farms as part of cnn's freedom project. >>> and as unrest sweeps the arab world, unemployment and high prices test the patience of young people in jordan. >>> let's kick off with a look at the european stock market action. markets have been open for just over an hour now. after the ftse 100 took a little bit of a tumble, these indices all trading up. we currently have the ftse up by 0.25% stronger. gains coming from the dax in frankfurt and the cac as well. the euro is down about one-fifth against the dollar, currently trading at 1.3935. the pound is flat at the the moment, the pound not being helped by news coming out of a leading trade body. we have a new npc member on the bank of england's rate setting co
cnn hong kong, i'm andrew stephens. welcome to "world business today." the top stories this monday, march 7th. violence rocks the home of libya's biggest oil refinery. the result rise in crude prices sends stocks sliding. >>> cnn launches a ground breaking initiative to highlight modern day slavery. we'll hear from india and china. >>> and going inside interpol. how the top police body has been attracting investment. >>> well, a look at the european stock markets open for 62 minutes now. and they started the week lower on concerns over the unrest in libya. we've got that subsequent spike in oil prices. so we are seeing a little bit of money coming off the table. not that much, actually, by comparison with what i suspect has been going on in asia. but all of the old problems are back to haunt us. but it's so surprising, really, that london is down by as little as it is. as for paris, off by about 1/5 of a percent. lvmh has anonounced plan to tak over in a $5.2 billion deal. and that has sent the luxury fashion company shares down almost 1%. there is actually a premium here to the pr
hong kong, i'm andrew stevens. you're watching "world business today." top stories this wednesday, march 2. stocks tumble on fears of a sustained surge in oil prices and investors are left wondering how the libyan uprising will affect energy exports long term. >>> dior ditches chief designer john galiano days ahead of fashion week. what's at stake for the fashion house. >>> and the sky-high price of sugar leaves south american shoppers feeling bitter. >>> let's take you straight to the stock market action now starting in europe. citing oil prices and concerns over economic growth have been rattling stock markets around the world. here's how european markets are reacting an hour after the trading day. the london ftse down, the traders watching stocks there. keeping an eye on shares of standard charter bank. the dax also falling but a stock to watch there added the second largest sportswear brand reported a doubling of profits to $780 million. the share price trading up 1.4 in frankfurt. the smi is down. meanwhile, on the currency markets. the euro is gaining against the u.s. dollar
is fighting back. >>> welcome back. you're watching "world business today" live from cnn hong kong and london. >> the "new york times" is now charging for access to its website. one of the web's busiest newspaper sites is no longer completely free. instead, it's behind a pay wall. allan chernoff explains how the gray lady is looking for some green. >> reporter: the "new york times" is trying to harness a force that's been wrecking the newspaper business, free access on the internet. executives here plan to walk a fine line to generate subscription revenue from avid readers willing to pay while still retaining casual customers who boost advertising revenue with their clicks. after much research, "the times" believes that fine line is 20 articles every four weeks. >> we're as confident as we can possibly be in a research setting. obviously whenever research hits the real world, there are changes. >> reporter: whatever the right number of clicks is, "the times" intends to become the best general newspaper to emulate business papers, the "wall street journal" and "financial times" have done. coll
from cnn london. i'm charles hodson. >> and good afternoon from cnn hong kong, i'm pauline chiou. this is "world business today." the top stories on thursday, march 24th. portugal's prime minister quits as parliament votes down plans to tighten austerity measures. now an eu bailout looms. >> japan's devastating earthquake continues to disrupt the global supply chain. we look at why it can be harder to get ahold of a toyota car or an ipad 2. >>> and as the battle for libya continues, europe and the united states tighten their grip on assets owned by moammar gadhafi. >>> well, as many european countries continue to battle their way out of debt, portugal may be next in line for a big bailout. portugal's parliament just rejected a new proposal for more austerity measuring adding to the uncertainty about the political and economic future of the country. all the opposition parties voted down plans by prime minister jose socrates for bigger budget cuts and a pension freeze. they said it put too much pressure on the poor, but mr. socrates said they are needed for the financial health. >>
. >>> good morning from cnn london, i'm charles hodson. >> and good afternoon from cnn hong kong, i'm andrew stevens. you're watching "world business today." our top stories this friday, march 4th, hopes are rising that the world's biggest economy will finally deliver a bumper jobs report. >>> the head of one of britain's top academic institutions resigns over links with libya. >>> and how to be happy in china. political leaders ponder that question at a key gathering in beijing. >>> well, let's get straight to the markets. and the last trading day of the week seems to be off to a good start here in europe following strong performances from the dow. here we are at the moment in europe. up again, just very slightly for the zurich smi. ftse up .5%, and leading the pack is the cac by .5%. it was seeld some of the blues in have been shrugged off by the markets following a rally on wall street. we'll see what that continues in a friday session. let's quickly look at the currency markets. of course, we saw a great deal more strength in the euro after it jumped to a four-month high against the u.s.
of neutrogena naturals. >>> from cnn london, i'm nina dos santos. >> i'm pauline chu from hong kong. welcome back to "world business today". >>> look at how they're faring at the moment. one hour and 30 minutes to the trading session. you can see, things are faring quite well after a couple of days of losses as you can see the european stock markets rising to the tune of about 1.1% for the dax. ftse 100 up .5%. and the smi and the cac 40 up by three quarters of 1%. standard & poor's has cut portugal's debt rating to a gain on tuesday one notch above junk status. that, in turn, raised portugal's credit insurance costs making it that much tougher for the economically weak country to pull itself out of the current debt crisis. s&p also cut ratings yet again to a double b minus status. greece's debt is classed as junk. s&p said that the credit outlook for both nations is negative. >>> here in asia, the nikkei reverlsed several days of losses to become the region's top performer on wednesday. japanese exporters got a boost from a weaker yen today, but tokyo electric power shares continued to take
. you're going to love this. to a human trafficking. first this story from hong kong. unesco announced one of the winners of this year's women in science award is hong kong chemist. the announcement made on friday. the 47-year-old chemistry and energy professor was nominated for her contribution in developing light emitting materials and innovative ways of tapping solar energy. the award is given to five outstanding female scientists around the world. the other four winners are from kuwait, sweden, mexico, and the united states. >>> the prime minister says his government will take all measures to put an end to illegal immigration to australia via malaysia. he made the remark on thursday during a three-day visit to cambria. representatives from africa and south asia are using malaysia to enter australia at a transit point to enter on rickety boats. an australian plan to set up a detention center for refugees will be taken up at a meeting in bali next week. the meeting is devoted to combating human smuggling and related transatlantic crimes in the region and beyond. >>> a video from chin
in yemeni prepare for what they say will be their biggest demonstration so far. and a jury in hong kong finds her -- finds a woman guilty of murdering her husband after poisoning his milk shake. >> hello, safety officials in japan shea they expect the reactor core may have been breached. it raises the possibility of more tadges in the environment. the test of the water at the plant's number three reactor showed contamination 10 times higher than normal levels. they say the cause is still being looked at. >> at this point, we do not consider we are facing a new situation. rather, the certain level of radioactive materials may have leaked, as i have always mentioned. and we are currently looking at whether the leakage is from the reactor or from other parts. and we need to exam the situation. >> let's go live to our correspondents in japan. one of the towns worst-affected. but first let's go to mark. the worries being caused by levels of radioactivety in water, they are talking about. >> that's right. what sparked this whole scare is the levels of radiation found in the water yesterday wh
was in hong kong at the time, and i heard the news that our family was jumping up and down. explaining to my friends in hong kong what that meant. that was extraordinary for them to understand as well. by no means is if international event. it is what gavin has often told us. it is several world series events, several super bowls put together, strung together. i also know that it is not just a one-day event, as you all been educating yourself about this fantastic boat race. we will have entities from a round world building their boats here, coming here with their entourage, beginning now, actually, taking a look at the course and understanding what it is to build a boat here and then executing what they have to do to make sure their boats are ready. this happens now. it does not happen a year from now. they are all beginning to come now, so our restaurants and all of the businesses, the procurements of what they need to support their staffs coming over here. they are all beginning now. that is part of that $1.4 billion economic outlook that we had when we made this decision and got the award
to the russian desk, and the russian speaker was sent to hong kong. >> you had experience in russia as well. what should we now, as kind of a parentheses in our conversation, about mongolia? >> well, it is a country that conquered most of the world 600 years ago. since then, basically, it is a large, rural country with 20 times as many sheep as people. >> ok. >> historically, they were nomadic herdspeople, but they also have rich mineral deposits. when they came out from under the soviet yoke -- although the russians poured a lot of investment into mongolia -- one should not treat them as just having abused the country -- they were able to transition to democratic government. >> what about the foreign service? >> you begin to worry your junior year about what you're going to do. i started out as an engineering student, and switched to history after finding that other students had more of an advantage than i did. we had a state department recruiter come that made it sound like a dramatic profession. >> was it? >> actually, it turned out to be. >> singapore, china -- like going home, i'm sure, in s
>>> good morning from cnn london, i'm nina del santos. >> and good afternoon from cnn hong kong, this is "world business today." we're following two big stories for you this friday, march 18th. >>> in japan, urgent attempts to avert a nuclear crisis enter a second week at the fukushima daiichi plant. workers douse one of the rea reactors with a water cannon. >>> in libya, gunfire in benghazi. but this time in celebration. rebels are rejoicing. but fears of retaliation by moammar gadhafi's forces are pushing the price of oil higher of. >>> so let's go straight to one of our top stories. the u.n. security council has put moammar gadhafi on notice that it will no longer permit his military bombardment of rebel positions from the air. while the council approved a no-fly zone on thursday authorizing "all necessary measures to protect civilians," libyan's ambassador to the united nations warmly welcomed thursday's revolution. he sides with the opposition and has called on gadhafi to step down. >> i would like to start by thanking the members of the security council for the resolution
'm charles hudson. >> good afternoon from cnn hong kong. i'm pauline chu. this is world business today. the stop stories, march 31st, compensation claims and cleanup costs. the cleanup from fukushima daiichi plant gets more and more expensive. >>. >>> awaiting results of stress tests. >>> this man is the son of libya's leader. he also interned at several u.s. companies. find out what he got out of that placement and what the companies he worked with had hoped to get out of him. >>> let's get straight over to the stock market here in europe. 62 minutes into the trading day. and very much a mixed picture. i think after what has been a week of some recovery on stock markets and we've seen some gain, really, they're marking time. zurich is off by about a third of a percent. the dax and ftse up a small amount. and the company that makes nuclear reactors for power plants, that is actually suspended at the moment pending an announcement. we'll bring that to you as soon as we know what that is about. on the currency markets we are seeing u.s. dollar weakness with gains for the euro, the pound
tonight. >>> a very warm welcome to "world business today." i'm pauline chiou at cnn hong kong. >> the top stories on this wednesday, march 23rd. >> the libyans will defeat them. >> gadhafi stands firm. >> there's more belt tightening in britain today to try to plug a gaping hole in the country's public finances. >>> and it was once the engine of america. we bring you the startling new figures on detroit's mass population exodus. before all of that, we want to update you on the situation now in japan. black smoke has been seen rising out of the fukushima daichi plant number three reactor building. this is the reactor that has been giving crew there's some trouble the past couple of days. tokyo electric power company says some workers have been evacuated from the plant. we will have more on that from tokyo a bit later on in the show. nina? >> pauline, let's turn our attention towards libya, where coalition bombs and missiles continue to rain down. aircraft like this u.s. marine corps harrier jet have flown more than 212 missions so far against the libyan forces. ships in the mediterranean h
good afternoon to you from cnn hong kong, this is "world business today." >>> the top stories on tuesday, march 1st. >>> unrest in oil-rich countries have sent oil prices soaring but how accountable are oil companies to those protesting on the streets? >>> slumping profits and a sinking share price but china's answer to youtube says amazingly, things are looking up. >>> and more than a billion dollars to compensate farmers. we'll bring you shocking footage from south korea as it struggles with the foot and mouth outbreak. >>> first let's take you straight to the stock market action now, starting in europe. we've seen some gains at the opening with markets trading, yesterday's gains on wall street are all up, the lon son ftse 0.7, the dax up 1.05, the paris cac also up and the zurich smi are also up. the euro and the point ready gaining against the u.s. dollar.the dolldollar. the dollar falling against the japanese yen. >> the waenger yen helped give japanese stocks a boost. the nikkei in tokyo is up. most of the major markets have finished the session higher. in shanghai, the
tonight. >>> a very warm welcome to "world business today." i'm pauline chu at cnn hong kong. >> i'm at cnn london. these are the top stories on tuesday, march 22nd. >>> oil markets weigh the impact of a long war in libya as moammar gadhafi digs in. >>> the nikkei rebounds as japan's nuclear angst eases a little bit and tokyo electric is ordered to pay compensation tore radiation leaks. >>> and his satirical take on world leaders and sports figure s. >>> this just in to cnn, israel former president has been sentenced to seven years in prison for rape. he was convicted on two charges of rape and other charges. throughout the trial, he maintained his innocence and continued to accuse his victims of fabricating stories. in. >>> now to libya and the fourth day of coalition air strikes on the country. >> it appears to be moammar gadhafi's compound. >> through the night, pro-gadhafi sources filled the skies of tripoli with anti-coalition fire. no aircraft was shot down. the coalition fired 159 tomahawk cruise missiles, hitting libyan air defense sites from tripoli to benghazi. missile at
hong kong, i'm andrew stevens. welcome to "world business today." our top story, this thursday, march 3rd. oil prices are pulling back but still over $100 a barrel. >>> apple's ceo steve jobs is back on stage. and the biggest surprise of the event. >>> and as the kadafi family with assets in spain, we'll investigate how they've been investing around the world. >>> we've been watching the protests in libya and the events there driving oil higher and stocks lower. rumors actually in the market, and those have been affecting it, affect, oil price and stocks. this is really looking totally beyond the instability there, but because we have seen pressure coming off oil prices we are seeing that in stock. and tuesday's close of $102, let's look at brent crude, it is the primary oil contract here in europe. it's now trading at $159.18 a barrel. we're obviously an hour and three minutes into the trading day in europe, and we did see a higher open. that has been sustained. all of the markets apart from the smi which is going its sweet way. the xetra dax and paris going up. taking on currencies, t
ordered 20 of the new jumbo jets. the plane's list price is just over $317 million. live from hong kong and from london, this is "world business today." >>> obviously if you're going anywhere on business, you want to know what's going on with the weather. our meteorologist, jennifer delgado is at the cnn weather center, and there are a few problems with rain and snow. >> that's right. we are talking about the west coast and the east coast. today is the start of the vernal equinox. it started on sunday and we're still dealing with wild weather. on the west coast, dealing with heavy rainfall that's starting to taper off through parts of california. spreading over to nevada and also some snow. for today, we will see showers and thunderstorms. potentially you could expect travel delays, especially with wind gusts kicking up to about 50 kph as we go throughout the afternoon. along with it, a foot of snow, talking mountain snow in some of the higher elevations. certainly things have not quieted down on the west coast. parts of oregon have been dealing with rain almost every day for the last m
>>> good morning from cnn done lon. >> good afternoon from cnn hong kong. you're watching a special edition of "world business today" as cnn continues its coverage of the earthquake and tsunami in japan. >>> sea walter being poured from helicopters on to japan's damaged nuclear reactors. that is the scene on thursday. engineers attempt once again to avert catastrophic radiation leaks. the japanese military is dropping tons of water on to two of the six reactors at the fukushima daiichi nuclear plant trying to cool the plant's fuel rods. but the company that runs the plant now reports that the radiation levels actually increased. they're also bringing in police, water cannon. officials say radiation levels right now are too high for personnel to venture inside. >> translator: spence force conducted a spring of water from the air. and the police are also going to start the water spraying by the water cannon trucks. so we're trying to combine the two approaches to maximize the effect of water spraying. >> hundreds of thousands of residents in the area have been evacuated. many are seek
firms lost ground. as for the hong kong's hang seng, almost 1%. banking and insurance stocks were topping the loser's board there. and some unexpected trade date from china dragged the shanghai lower, it shrank about 1.5%. let me give you a little detail on that because china surprised analysts by reporting a trade deficit of $7.3 billion in february. quite a dramatic change from back in october, for example, we were looking at a trade surplus of more than $27 billion for china. well last month, the country's imports soared to $104 billion but exports rose slightly. that actually left china with the first trade deficits since march 10. experts say it was due to the lunar holiday when china's output falling dramatically. economists had expected china to report a trade surplus for february. let's look at united states and investors in the u.s. marked the two-year anniversary of an impressive bull run on wednesday. now, since 2009, the dow has gained 85%. the value of the s&p has almost doubled, rising 95%. and the nasdaq, well, that's done better than both of them. it soared nearly
kissel, an american woman living in hong kong was convicted of killing her investment banker husband by poisoning his milk shake. after winning an appeal, a second trial ended last week with another guilty verdict for kissel, who insists she was a battered wife who acted in self-defense. joining us now is frank shay, a key witness in this case and paul cowan a criminal defense attorney and former new york prosecutor. good morning to you both. >> good morning. >> frank, i want is to start with you. mr. kissel contacted you a ways back to work on a private investigation, is that right? >> that's correct, jenna. approximately march or april of 2003. >> and was this because he, is this an investigation relating to his wife? he suspected she was cheating on him, correct? >> that's correct. >> can you tell us what you found? obviously, it was enough for you it be compelled enough to travel to hong kong to where they were living to warn him. >> we did the investigation and it was confirmed that rob's suspicions were concerned. mrs. kissel was having an affair with a gentleman and once the i
to china based airlines. the deal was announced in hong kong on tuesday. hong kong airlines will buy a 32 of boeing's 787 streamliner jets. air china has submitted an order for five jumbo jets. the chinese aviation market is one of the fastest growing worldwide. industry analysts say it couldi need some 400new aircraft over the next 20 years. >> that is a whole lot of people and a whole lot of money. today marks the 100th anniversary of international women's day. if they had of the new un women's agency says there has been a -- the head of the new uns women agency says there has been remarkable progress, but there is still widespread lack of opportunity. today, at women gathered in manila to protest for better wages and better health care. other women held a party in the streets of the capital to marke the event. it is a controversial subjects here in germany, the genetic testing of embryos. one genetic test on embryos is now up to the parliament to decide how much design can really be allowed in designer babies. >> politicians had been waiting for the ethics committee recommendation for
overseas school after bangkok. a third opens in hong kong in 2012. >>farthing: there are many visionaries on the harrow school board who see the value in transliterating a qualityharrow-branded service into new markets. at a commercial level, there is a return from the international schools as well which goes back to help maintain a level of fee structure at a school like harrow to the benefit of that school too. >>reporter: harrow international school is a private company backed by a hong kong investor; it operates under alicence from harrow school in the uk. as for the maths, the beijing operation has over 400 students - with annual fees for the eldest, 28,000 us dollars. >>in the city of tianjin (pronounced tee-en jeen), another famous british name, wellington college, opens its doors in the autumn of 2011 - in a campus funded by a local property developer. a relative latecomer to the overseas market, wellington has big plans to catch-up with the competition, first in china, then india and the middle east. >>cook: they believe firstly that they have a brand at home, a quality of educat
a look at overseas trading this morning, in tokyo, the nikkei gained 64 points while in hong kong the hang seng was up 98. >>> falling oil and financial stocks led a rally tuesday that gave wall street hope the market may be able to bounce back from recent losses. bank of america drove markets higher after its ceo told investors it plans to return more money to shareholders through stock buybacks and dividends sending shares up nearly 5%. meanwhile, west texas crude settled down just above $105 a barrel, but investors are bracing for more volatility as libyan unrest threatens to spread to more strategic oil producers, iran and saudi arabia. shares of brown foreman shot up 5% after the liquor company said profits rose 5%. boeing has locked in odds 10 billion in deals with air china and hong kong airlines. more sales could be on the horizon. china expects to order more than 2,000 aircraft over the next five years. sprint nextel and t-mobile pair and deutsche telecom have revived merger talks hoping to keep up with wireless rival verizon and at&t. warner brothers has teamed up with f
weird news because sometimes real life becomes a parody of itself. to hong kong where you are looking at a mcweding. that's right, you get ready at any mcdonald's and like the food, the nuptials are cheap. complete with a loan french fry, which you see there, symbolizing the joining of their love. here's what you don't get, no privacy and no booze. this whole thing got started, i know, this whole thing got started when a couple met at a hong kong mcdonald's. a trend was born. romantic, maybe not. but you will not run up your credit card and maybe that is romantic. >>> we want to hear what you think. send your e-mails to mcginty's mail bag. the address, mailbag@wusa9.com. 9news now will be right back. >>> in the mail bag tonight, the price of a gallon of gas has gone up, but mike says cut your griping. i'm always amazed at how we americans feel we are not part of the rest of the world. i was in costa rica in january and they were paying $5 a gallon for gas back then. but when the price goes up here, we start crying and moaning about how tough it is, as if we shouldn't have to be submit
gained 64 points while in hong kong the hang seng was up 98. >>> falling oil and financial stocks led a rally tuesday that gave wall street hope the market may be able to bounce back from recent losses. bank of america drove markets higher after its ceo told investors it plans to return more money to shareholders through stock buybacks and dividends sending shares up nearly 5%. meanwhile, west texas crude settled down just above $105 a barrel, but investors are bracing for more volatility as libyan unrest threatens to spread to more strategic oil producers, iran and saudi arabia. shares of jack daniels parent brown foreman shot up 5% after the liquor company said its net income rose 35%. urban outfitters tumbled 5%. boeing has locked in $10 billion in deals with air china and hong kong airlines. more sales could be on the horizon. china expects to order more than 2,000 aircraft over the next five years. sprint nextel and t-mobile parent deutsche telecom have revived merger talks hoping to keep up with wireless rival verizon and at&t. warner brothers has teamed up with facebook to test
, hong kong and mainland chinese markets are down this tuesday morning. hong kong's hang seng and shanghai's key index for major blue chips both down about .2%. and in shenzhen the sse composite is down .8%. >>> the earthquake and tsunami have dealt a heavy blow to japan's auto industry. parts shortages have affected carmakers and their suppliers across the country. >> reporter: this factory in yokohama city south of tokyo is a key link in japan's auto parts supply chain. it processes transmissions and other metal parts. a high temperature oven is used to strengthen the parts to improve durability. but many clients are based in the quake-hit to hoch yue region. shipments have dropped by half since the disaster. the factory holds a crisis meeting. >> shipments from some of our clients are down 20% or 25%. >> output of one client is only 20% of the pretsunami level. >> reporter: management decides to shut down a quarter of its ovens. in addition, it asks 6 of its 46 employees to stay home. >> translator: the situation is brutal. we can't predict what will happen. our clients don
. and be sure to ask about the free trial offer. >>> welcome back. from cnn hong kong and london, you're watching the special coverage of the earthquake in japan. >>> $720 billion, that is the number that we're hearing of how much has been wiped off the value of the japan stock market. that's an incredible number. and this is why. there's been another big, big selloff today. if you look at the nikkei 225, down by 10.5% at the close, it was down by 14.4% at one stage today. this was panic selling. the market players in japan were saying that everything was being sold today, particularly by the big hedge funds. they were just dumping stocks. you had this panic selling. and over the past two days, we've seen after 6.2% fall and now this 10.5% fall. if we just look at the days trading tay. this is an anatomy of what happened today. there was a selloff from the start. and then the lunch break is where the flat line is. and then another big selloff after the lunch break. and that came in reaction to the japanese prime minister warning of severe risk to more radiation leaks, which was the tr
morning from cnn london, i'm charles hodson. >> and good afternoon from cnn hong kong, i'm pauline chu and this is world business today. as radiation fears spread in japan, residents are warned to stay away from the nuclear power plant while shares in tokyo electric power sink. >>> investors kept their cash close to home. now as the region reels from protests, where will the money go next? >>> and japan airlines emerges from bankruptcy administration. we'll tell you the price it's paid. >> for now let's take you straight over to the stock market action here in europe. and we're 62 minutes into the trading day. here's how it looks right now. we are seeing modest gains right across the board. between about .25% to .6%. the dax was hit initially by the chance angela merkel has suffered a defeat. move on to the currency markets because that's affecting the euro, as well. and here we are. we're looking at 1.4074, 1.5983, just a shade under 160 for the cable. a bit of a weakness. and the japanese yen at 80.66. pauline? >>> well, charles, the markets here in asia finished mostly lower this se
and tsunami. my colleague pauline chiou in hong kong joins me for more with an analysis of how the markets look and how it's impacting the value of the yen today, pauline. >> errol, the story about the yen was definitely the talk of the business world today. a financial fallout continues to follow the crisis still unfolding in japan. early thursday morning in the wee hours of the morning, the japanese yen hit its strongest level against the dollar since world war ii and that was $1 to 7625 yen surpassing its highest level set back in 1995. now, right now the yen is trading against the dollar at 79 yen to the dollar. it's still broken past that 80 high yen mark, sort of the psychological barrier, a super strong yen is a big issue. exporters want a weaker yen and that's because japanese companies sell most of their products overseas. when they bring their earnings back home and convert them back into yen, a weaker yen means they make more in profits. now, take a look at what's been happening so far this week since monday, march 14th. the lower the line, the stronger the yen is to the dollar
and copper markets helping hong kong and shanghai. >>> of course we had stan grant just updating us there on the ground in japan when it comes to what the government's doing and the nuclear fallout, but what are we hearing about the impact on the global economic growth in japan? >> well, it's a little bit difficult to say at the moment, there's going to be some sort of knockdown effect. but the brokerage reports are talking about a first quarter growth hit. and the first quarter is the first three months of this year. a hit of maybe about .5%. which would bring it down to 1.7% growth. it's still growth, not recession. the second quarter, the hit might be a little bit stronger. people are saying that 2.2% growth may be ratcheted back to about half. quite a bit of damage for the second quarter. and then we get the kick-in of the reconstruction, nina. but there is going to be lower growth without doubt in both this current quarter and the following quarter. that will have some sort of knockdown effect. the other thing to look out for. just how well trade is going to be interrupted. jap
radioactive steam to try to reduce the pressure at the reactor. joining me now from the bureau in hong kong, we want to welcome our viewers in the united states and around the world for our breaking news coverage of this earthquake catastrophe in japan. i'm wolf blitzer, and you're in "the situation room." >> as we watch the aftermath of the earthquake and tsunami, the devastating wall of water up to 30 feet high, erasing everything in its path, this is so, so heartbreaking. i fear that the devastation that we will see in the coming hours will be so much worse now that it's daylight after 8:00 a.m. in japan right now and the situation is only going to be underlined as going from bad to worse. >> that's right. it's 7:00 a.m. in hong kong. it's 8:00 a.m. there in japan. very soon we're going to get a much more clear picture of the devastation there. i want to describe to you the feeling here in the news room when we watched live those pictures, the aerial footage as that wave of water crash ed through the town just 100 kilometers in. the debris, the wall of water up to 30 meters high sweeping
another 6.0 magnitude. it's 5:00 p.m. right now. from cnn hong kong i'm andrew stevens. >> we welcome you to cnn special coverage in japan. >>> now, as the days pass in japan, the death toll continues to climb. friday's earthquake and tsunami have claimed 1,600 lives so far, 1,500 are still missing. those figures are expected to drive dramatically. pictures like this. the devastation of sendai serves as a reminder of the sheer force of the tsunami that inundated them. the situation is bleak for those who have survived as well as survivors are staying in makeshift shelters like this one at a school recovering from the trauma of the past four days and now waiting for news of loved ones. and on top of all that, this japan is racing against the clock to contain what could become a nuclear crisis. images like this have become all too familiar, the white smoke billowing over northeast japan after a second explosion at a nuclear plant in fukushima. that plant's third reactor has now shut down. >>> as frightening as this nuclear development is, one expert says caution must be exercised when descr
>>> held throw our viewers in the u.s. and all over the world. i'm pauline chiou at cnn hong kong. >> i'm nationalie alan in cnn. it is sun afternoon in sendai, japan, where 48 hours ago the biggest earthquake ever recorded in japan struck just offshore. the japanese meet logical society has upgraded that quake to a magnitude of 9.0, while the u.s. geological survey has maintained a rating of 8.9. the city's 1 million people, and countless towns and vimmages to the north were devastated by the subsequent tsunami that crashed over the coastline and tore through everything in its path. while that danger has passed, another has emerged. at this hour, we are tracking a new and extremely serious concern. >> japanese nuclear official says there is a possibility just a possibility, that there could be a meltdown at one of the reactors at the fukushima daiichi nuclear plant. a second reactor is also in trouble, but japan's ambassador to the u.s. has told cnn there is no evidence that a meltdown is under way. >> estimated 80,000 people live within ten kilometers of the plant, six miles, al
in hong kong. we'd like to welcome viewers in the united states and from around the world to our continuing coverage of the disaster in japan. >> as japan tries to recover from the powerful quake and tsunami there, are growing fears today the country could be hit with a nuclear disaster. this is the actual moment of explosion at a nuclear plant in tu fukushima. sea water has been poured into the reactor to cool the fuel rods. about 160 people being tested for possible exposure to radioactive material. both reactors could have meltdowns. >>> across northern japan, people searching evacuation lists for relatives and friends. the official death toll, 977. 739 missing, but those figures are sure to rise. one regional police official says the deaths in his area alone will "undoubtedly be in the tens of thousands." "uss ronald reagan" arrived. more ships expected today or later this week. search and rescue teams from los angeles and virginia expected today or tomorrow. rescuers are hampered by the continued threat of aftershocks and more tsunamis. since the quake there, have been nearl
. taking a look at overseas trading this morning, in tokyo, the nikkei fell 14 points but in hong kong, the hang seng rose 89. stocks moved higher wednesday, but today we'll see if they have enough strength to shake off a troubling turn in europe's debt saga. portugal's prime minister resigned wednesday after parliament rejected his latest austerity measures. yesterday's stocks rebounded on news that gas consumption is actually up, despite higher prices at the pump. fueling optimism, the recent spike in oil prices may not stall the economic recovery. that news was especially comforting on a day when oil prices reached their highest level in 2 1/2 years, settling just under $106 a barrel. meanwhile, shares of freeport mcmoren copper and gold jumped after the ceo of the company said they can't afford to make a big purchase. on the down side, financials fell after the federal reserve rejected bank of america's plan to increase its dividend because it failed to pass the fed's stress tests. another drag on the day, sales of new homes plunged 17% in february to the lowest on record. more fal
hong kong's hang seng ticked up slightly and oil fell from a two-year high but still remains above $105 a barrel. >>> today, wall street gets the february durable goods report and a look at the weekly jobless claim numbers. on wednesday, a late rally kept stocks on the upside. the dow closed up 67 points to hit its highest level in two weeks. while the nasdaq gained 14. >>> the disaster in japan is forcing toyota to slow its production here in the u.s. the world's biggest automaker told employees and dealers wednesday that due to supply disruptions from asia, it expects to halt production at some u.s. factories. the company did not indicate the size or pace of the slowdown, but it is expected to be somewhat limited since most toyotas made in this country use parts made in america. >>> new worries this morning about the housing market, after sales of new homes fell to the lowest on record. sales fell 17% in february, the third straight monthly decline. and the worst since they started keeping records 50 years ago. the median home sale price fell to $202,000. in response, many builders ar
are transferred to hong kong and china. it means that there is a lot of oil that is getting used for the recycling of the bottles. we have a presentation from the youth commission. they are the representative of district 7. she is asking for support that we need to get to her, at a public-private exchange program. she was in the mission district. she is there under a scholarship. realize that her school, we don't have enough interaction with each other. we have all of these-stigmas about each other. she is asking for support with this exchange program. at the last cabinet meeting, there was also a video. a person from the department of public health heyman and shot a psa with us. >> handsome youth commissioners have come by to tell us about financial empowerment workshops for high-school students. there are workshops where they can learn about getting financial aid preventing identity theft, avoiding death traps. it will be april 30 from 10:00 a.m. to 1:00 p.m.. also, they are going to be having our annual youth summit which is next friday, march 18 from 10:00 a.m. to 3:30 p.m.. it will be a bunch
a look at overseas trading this morning, in tokyo, the nikkei climbed 249 points while in hong kong, the hang seng was up 391. wall street is still in a wait and see mode saw its second lowest volume of the year tuesday, but at least stocks rose. home prices dropped for a seventh straight month in january. only washington, d.c. saw gains. despite that, home builder will he nar fell 3%. investors shrugged off falling consumer confidence for the second time in six months. oil surged to just under $105 a barrel, 20% higher in just a month. oil stocks rose for a fifth straight session with that sector's value at its highest since 2008. ge is buying 90% of convert teams, a french energy equipmentmaker for more than $3 billion. tuesday, japan's automakers said it would be cutting north american production due to lack of car parts. home depot jumped almost 3% on its billion dollar stock buyback. amazon.com rose after introducing a remote access music service ahead of rivals apple and google. cisco buying software company new scale for an undisclosed amount also rose. finally, pez has come
this morning, in tokyo, the nikkei gained 20 points while in hong kong the hang seng zoomed 398. >>> it's a pretty safe bet that oil will be the wig story on the street once again today. oil settled above $105 a barrel in new york monday as libyan unrest shows no signs of letting up and reports surfaced about planned protests in saudi arabia. copper took a big dip, driving down copper and gold 3%. meanwhile, chip stocks were hit by a downgrade to the semi conductor sector. communications equipmentmaker see anna fell 9% after a weak sales forecast. even a big corporate deal failed to ease investors fierce. western digital agreed to by hitachi's disk drive operation for $4.3 billion. confident consumers took on more loans for a fourth straight month in january while credit card debt hit a new zix-year low. after chevron was found guilty in ecuador for massive pollution, it was ruled the country cannot go after chevron's assets in other countries. southwest is raising domestic fares by 10 bucks each way. call it recall monday. honda recalled some 35,000 civic hybrids for electrical problem
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